Ivy Profile

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Tracy M Turner

Title: Associate Professor
Department: Finance
Office: 3111 Gerdin

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Tracy M. Turner is an Associate Professor of Finance at Iowa State University where she teaches market analysis, financial econometrics and real estate courses. Turner’s research is largely focused on household behavior. She has examined owner-occupied housing as a household wealth building asset, the determinants of household savings and net worth and the determinants of home ownership. Her recent research examines portfolio choice and returns in commercial and publicly traded real estate markets. Turner recently served as a 2020 Research Fellow at the Center for Household Financial Stability, St. Louis Federal Reserve Bank. Turner earned a Ph.D. from the University of California at Davis. Before joining ISU, she served as a visiting scholar at the University of California at Berkeley, an Associate Professor of Economics at Kansas State University and a revenue forecaster for the State of Kansas. Professor Turner is an active member of the American Real Estate Society, the American Real Estate and Urban Economics Association, and the American Finance Association. Her research has been published in leading academic journals including The Review of Economics and Statistics, Real Estate Economics, Journal of Real Estate Research, Journal of Housing Economics, Journal of Regional Science, Public Finance Review and Economic Inquiry and referenced in the popular press, including The Financial Times and The Wall Street Journal. Turner has been recognized for excellence in teaching and curriculum development, and she was recently awarded the Early Achievement in Teaching Faculty Award, by the Ivy College of Business, 2020 Dean’s Advisory Council.

Academic Work Experience

Associate Professor
Iowa State University
2015 -

Director of Graduate Education, Master of Real Estate Development
Ivy College of Business, Iowa State University
2018 - 2020

Research Fellow
St. Louis Federal Reserve Bank, Center for Household Financial Stability
2020 - 2021

Roe Cross Associate Professor
Kansas State University
2006 - 2015

Visiting Scholar
University of California, Berkeley
2010 - 2010


  • Household Finance
  • Real Estate
  • Taxation

Selected Publications

  • Jensen, T. K., & Turner, T. M. (2022) "Monetary Policy Shifts, Dividends and REIT Momentum", Journal of Real Estate Research, 44 (3):311-330. Link to Paper
  • Tracy M. Turner and Youngme Seo (2021) "House prices, open space and household characteristics", Journal of Real Estate Research, 43 (2):204-225. Link to Paper
  • Leilei Sen and Tracy M. Turner (2018) "Are Rising College Premiums Capitalized into House Prices? Evidence from China", Real Estate Economics, 46 (2):449-486. Link to Paper
  • Tracy M. Turner and Brandon Blagg (2018) "The Short-Term Effects of the Kansas Income Tax Cuts on Employment Growth", Public Finance Review, 46 (6):1024-1043. Link to Paper
  • Andrew Nicholson, Tracy M. Turner and Eduardo Alvarado (2016) "Cigarette Taxes and Cross-Border Revenue Effects: an Analysis of Retail Data", Public Finance Review, 44 (3):311-343. Link to Paper
  • Christian Hilber and Tracy M. Turner (2014) "The Mortgage Interest Deduction and its Impact on Homeownership Decisions", Review of Economics and Statistics, 96 (4):618-637. Link to Paper
  • Boland, Michael, John M. Crespi and Tracy M. Turner (2014) "Measuring Sunk Costs in Agricultural and Food Industry Assets: Why Some Assets Sell Below Appraisal ", Journal of Agricultural and Food Industrial Organization, 12 (1):53-63. Link to Paper
  • Tracy M. Turner and Heather M. Luea (2009) "Homeownership, Wealth Accumulation and Income Status", Journal of Housing Economics, 18:104-114. Link to Paper
  • Tracy M. Turner and Marc T. Smith (2009) "Exits from Homeownership: The Effects of Race, Ethnicity and Income", Journal of Regional Science, 49 (1):1-32. Link to Paper
  • Leah J. Tsoodle and Tracy M. Turner (2008) "Property Taxes and Residential Rents", Real Estate Economics, 36 (1):63-80. Link to Paper
  • Tracy M. Turner and Daigyo Seo (2007) "Investment Risk and the Transition into Homeownership", Journal of Regional Science, 47 (2):229-253. Link to Paper
  • Turner, T. M. (2003) "Does Investment Risk Affect the Housing Decisions of Families", Economic Inquiry, 41 (4):675-691. Link to Paper
  • Steven M. Sheffrin and Tracy M. Turner (2001) "Taxation and House-Price Uncertainty: Some Empirical Estimates", International Tax and Public Finance, 8 (4):621-636. Link to Paper
  • Tracy M. Turner and Debbie Niemeier (1997) "Travel to Work and Household Responsibility: New Evidence", Transportation, 24:397-419. Link to Paper